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Renault seeks to generate 1 billion euros from ’round financial system’ by 2030 By Reuters 

© Reuters. The Renault manufacturing unit in Choisy-le-Roi close to Paris

PARIS (Reuters) – French automaker Renault (PA:) will search to generate greater than 1 billion euros ($1.20 billion) in gross sales from the so-called “round financial system” by turning its Flins manufacturing unit outdoors Paris right into a analysis, recycling and restore centre, its boss informed French weekly Journal du Dimanche.

“Our ambition, by 2030, is to realize extra income (from recycling and restore at Flins) than from assembling vehicles there,” mentioned Luca de Meo, Renault’s chief govt. “And to generate greater than a billion euros in turnover within the round financial system.”

This represents just a little greater than 2% of the Renault’s complete gross sales in 2020. The group will report its first-quarter gross sales on Thursday.

Renault confirmed final 12 months that it could cease assembling new vehicles on the Flins manufacturing unit and switch the location right into a analysis, recycling and restore centre by 2024 in a transfer to save lots of full-time jobs on the plant.

The loss-making carmaker mentioned it aimed to make use of 3,000 folks on the revamped website by 2030.

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